The billionaire fortunes pale in comparison to the trillions of dollars of unearned appreciation owned by regular home owners.
It’s the unearned part that matters most, at least capital investment has some benefit to the economy. Real estate appreciation adds literally zero value to the economy.
Capital investment strips wealth out of the worker/consumer economy (where it is traded for goods and services, and becomes someone’s paycheck) and transfers it to the securities market (where it is used to convert worker productivity into more capital)
Capital investment is only beneficial to the economy when the working class holds the capital.
That’s observablt false. Capitalism has lead to a massive improvement in living conditions for countries that have implemented it
Yes it also has downsides, but pretending it doesn’t do anything good is rediculous.
That’s dangerously close to Reaganomics friend and we live in a post-capitalism world.